Palo Alto Networks, Inc. $PANW Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,195,779 shares of the network technology company’s stock after selling 8,495 shares during the period. Rhumbline Advisers owned approximately 0.18% of Palo Alto Networks worth $243,484,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Klingman & Associates LLC raised its position in Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock valued at $434,000 after acquiring an additional 46 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Palo Alto Networks by 1.8% in the third quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock valued at $558,000 after acquiring an additional 48 shares in the last quarter. Mattern Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 2.9% during the third quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after buying an additional 48 shares in the last quarter. PTM Wealth Management LLC raised its holdings in Palo Alto Networks by 4.0% in the 3rd quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after acquiring an additional 50 shares during the last quarter. Finally, Arlington Trust Co LLC boosted its stake in Palo Alto Networks by 4.8% during the third quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company’s stock worth $222,000 after buying an additional 50 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the transaction, the executive vice president directly owned 155,119 shares in the company, valued at $29,190,293.42. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 260,542 shares of company stock worth $49,910,995 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PANW shares. Mizuho set a $220.00 price objective on Palo Alto Networks in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a research report on Monday, December 29th. DA Davidson set a $240.00 target price on Palo Alto Networks in a research report on Friday, December 19th. Evercore boosted their target price on Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Finally, HSBC lowered Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price objective on the stock. in a report on Thursday, November 20th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $227.36.

Palo Alto Networks Stock Performance

Shares of PANW opened at $165.51 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61. The stock has a fifty day moving average of $184.12 and a two-hundred day moving average of $192.93. The company has a market capitalization of $115.36 billion, a PE ratio of 104.75, a price-to-earnings-growth ratio of 3.96 and a beta of 0.75.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $1.56 EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.